Panthera Res. Regulatory News (PAT)

27 June 2024

Panthera Resources Plc

("Panthera" or the "Company")

Equity Financing Update

Gold exploration and development company Panthera Resources Plc (AIM: PAT), with assets in West Africa and India, provides the following update in respect of the Company's equity financing as announced on 17 June 2024 (the "Equity Financing").

The Company previously announced that it expected that the 18,906,786 new Ordinary Shares will be admitted to trading on AIM on or around 28 June 2024.

Subsequently, commitments have been adjusted with an increase of 76,798 new Ordinary Shares on the same terms as that announced on 17 June 2024. Accordingly, in aggregate, 18,983,584 new Ordinary Shares are anticipated to be issued as part of the Equity Financing.

Split admission

While the Company has received commitments in relation to 18,983,584 new Ordinary Shares pursuant to the Equity Financing, because of settlement delays associated with 1,818,182 new Ordinary Shares, the Company will complete the admission into two tranches.

Accordingly, it is now anticipated that 17,165,402 new Ordinary Shares representing approximately £0.94 million (the "First Tranche") will admit to trading on AIM on or around 28 June 2024 ("First Admission"). The remaining 1,818,182 new Ordinary Shares representing approximately £0.1 million (the "Second Tranche") will admit to trading on AIM on or around 3 July 2024 ("Second Admission").

Broker Options

In addition, the Company has agreed to issue an additional 217,197 unlisted certificated options to advisors to the equity issue, exercisable at a price of 5.5 pence on or before two years from the date of Admission (as defined below) with each option entitling the holder to acquire one new Ordinary Share. Accordingly, taking into account the 758,181 unlisted certificated options announced on 17 June 2024, a total of 975,378 unlisted certificated options will be issued as part of the Equity Financing.

Admission and Total Voting Rights

Application has been made to the London Stock Exchange plc for the 17,165,402 new Ordinary Shares to be admitted to trading on AIM. It is currently anticipated that First Admission will become effective and that dealings in the new Ordinary Shares will commence on AIM at 8.00 a.m. on or around 28 June 2024.

Upon First Admission of the 17,165,402 new Ordinary Shares, the Company's issued ordinary share capital will consist of 193,288,942 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 193,288,942. With effect from First Admission, this figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Unless otherwise defined herein, the capitalised defined terms used in this announcement have the same meaning as those used in the Company's announcement on 17 June 2024.

Contacts

Panthera Resources PLC

Mark Bolton (Managing Director) +61 411 220 942

contact@pantheraresources.com

Allenby Capital Limited (Nominated Adviser & Joint Broker) +44 (0) 20 3328 5656

John Depasquale / Vivek Bhardwaj (Corporate Finance)

Guy McDougall / Kelly Gardiner

Novum Securities Limited (Joint Broker) +44 (0) 20 7399 9400

Colin Rowbury

VSA Capital (Joint Broker to the Equity Financing) +44 (0) 20 3005 5000

Andrew Monk / Peter Mattsson (Corporate Broking)

Andrew Raca / Thomas Jackson (Corporate Finance)

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Forward-looking Statements

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein.

**ENDS**